Passage Bio reports Q3 net loss $26.7M; cuts workforce 23%, halts Krabbe program

Passage BIO, Inc.

Net loss of $26.7M ($0.49 per share) vs $46.9M in Q3 2021; R&D expenses fell to $15.4M.
Cash $213.8M as of Sept 30, 2022; runway extended into first half 2025 via restructuring.
Workforce reduced ~23%; stop development of PBKR03 for Krabbe disease, explore strategic alternatives.
First patient dosed in Cohort 4 (high dose, early infantile) of Imagine-1 GM1 trial; data from Cohorts 2&3 expected Dec 2022.
First patient dosed in upliFT-D trial for frontotemporal dementia; William Chou appointed CEO in October.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change (interim)

Maxine Gowen

Interim Executive Chairwoman

PASG · Passage BIO, Inc.

Effective: 2022-11-10
Filed: November 10, 2022, 6:59 PM ET

On November 8, 2022, the Company received the resignation of Maxine Gowen from her role as Interim Executive Chairwoman of the Board of Directors of the Company (the “Board”), effective as of November 10, 2022 (the “Effective Date”).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Passage BIO, Inc. reported the third quarter ended September 30, 2022 results: net income Net loss was $26.7 million, or a net loss of $0.49 per basic and diluted share, EPS a net loss of $0.49 per basic and diluted share.

Period: the third quarter ended September 30, 2022
Net income: Net loss was $26.7 million, or a net loss of $0.49 per basic and diluted share
EPS: a net loss of $0.49 per basic and diluted share
Result: reported results

Exact text from the filing

Passage Bio Reports Third Quarter 2022 Financial Results And Provides Business Updates

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Maxine Gowen resigned as Interim Executive Chairwoman at Passage BIO, Inc..

Action: resigned
Role: Interim Executive Chairwoman

Exact text from the filing

On November 8, 2022, the Company received the resignation of Maxine Gowen from her role as Interim Executive Chairwoman of the Board of Directors of the Company (the “Board”), effective as of November 10, 2022 (the “Effective Date”).

View on SEC.gov

Browse all earnings releases →

Passage BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-017280

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.